Top left to right: 2017 REALTOR® of the Year Chris Isaacson; Affiliate of the Year Darrell Monda; Spirit of SILVAR Leannah Hunt. Bottom left to right: 2017 C.A.R. Region 9 Chair Chris Isaacson; 2017 President Denise Welsh was presented with her own gavel, a thank you for her service; President’s Award Susan Tilling.

The Silicon Valley Association of REALTORS® Installation Dinner on Jan. 25, SILVAR 2017 President Denise Welsh and Executive Officer Paul Cardus presented the 2017 Appreciation Awards to recognize certain members for their valuable contributions to the Association last year.

Welsh first thanked her fellow board members and committee chairs for their support last year, and said it was a privilege to serve the membership of SILVAR as president. Recognized for their outstanding contributions were:

2017 REALTOR® of the Year: Chris Isaacson (Coldwell Banker Residential Brokerage)
Welsh said Chris Isaacson has been a REALTOR® for slightly over a decade and in that time he has achieved so much for the Association in many different roles, from serving on the district council, as 2015 president of SILVAR, a California Association of REALTORS®® (C.A.R.) Region 9 director, 2017 SILVAR Region 9 chair, and National Association of REALTORS®® (NAR) director.

Welsh described Isaacson as a quiet and effective leader. Working on issues ranging from political to financial, Isaacson has shared his vision and expertise with the Association and its members. “Through his strong, calm leadership, and with an unflappable demeanor, he has strengthened and grown our Association,” said Welsh. Isaacson was also recognized for his leadership and excellent work on behalf of SILVAR and members as 2017 SILVAR Region 9 Chair.

2017 Affiliate of the Year: Darrell Monda (TourFactory)
Welsh said Monda, a longtime affiliate of SILVAR, “has proven to be a dedicated workhorse and a great proponent of our Association.” His firm provides essential state-of-the-art services to SILVAR’s REALTOR® members. Welsh recognized Monda’s professional support for all programs across the Association, from tour meetings, to the CIPS (Certified International Property Specialist) Institute, to the bocce ball tournament in Los Gatos.

“His generosity of spirit and willingness to roll up his sleeves and help where needed enhances the image of our Association and our REALTOR® and affiliated professional members,” said Welsh.

Spirit of SILVAR: Leannah Hunt (Sereno Group)
Leannah Hunt is a REALTOR® who reflects the Association’s commitment to supporting and contributing to the communities it serves and is one of the leaders in real estate in Silicon Valley. Welsh said Hunt “has worked on the frontlines and behind the scenes for the success of the Association.”

Welsh praised Hunt’s efforts to give back to the community by being active in an array of political and civic causes, serving on numerous boards.

“She is generous with her financial support as she is with her time. She is the REALTOR® face in her community,” said Welsh.

President’s Award: Susan Tilling (Coldwell Banker Residential Brokerage)
The President’s Award is presented at the discretion of the president to an individual whose service to the Association is worthy of special thanks and recognition. Susan Tilling has devoted many years of her time acting as a representative at C.A.R. and is a C.A.R. Director for Life.

Upon presenting this award to Tilling, Welsh said, “We are often asked why we get involved and volunteer. We are trying to find our ‘why.’ There are people who are involved out of a deep conviction that the time spent, the purpose of the organization, provides enough motivation for them to donate their time to the cause.

Welsh said Tilling “embodies the values and principles that drive so many of us to dig in and get involved with organized real estate, to fight for property rights and the ability of every man to achieve the American Dream. It is our ‘Why.'”

The Silicon Valley Association of REALTORS® (SILVAR) 2017 leadership team was installed on Jan. 19 at the Los Altos Golf & Country Club. California Association of REALTORS® (C.A.R.) 2006 President Vince Malta administered the oath of office to SILVAR’s new president, officers and board of directors. SILVAR represents over 5,000 REALTORS® and affiliates engaged in the real estate business on the Peninsula and in the South Bay. The local trade association seeks to promote the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.

A REALTOR® for 30 years, Welsh has been active in organized real estate, having served in multiple leadership positions, including SILVAR board director and California Association of REALTORS® Region 9 director. She is also an active volunteer in the Los Altos community, where she lives and works.

In her address to members, Welsh spoke about the value of and her pride in being a REALTOR®. “This is such an open industry that anyone can be an agent, but not everyone can be a professional REALTOR®. We are engaged in helping our clients with the most important decision of their life,” said Welsh. “We are set apart by the quality and service we deliver to our clients and the professional standards that we set.”

The 2016 Silicon Valley Association of REALTORS® (SILVAR) leadership team was installed Thursday night at La Rinconada Country Club in Los Gatos. California Association of REALTORS® 2013 President Don Faught administered the oath of office to SILVAR’s new president, officers and board of directors. C.A.R. 2005 President Jim Hamilton served as master of ceremonies and welcomed about 180 members and guests to the special event. Alain Pinel REALTORS® Vice President/Regional Manager Jeff Barnett led everyone in the Pledge of Allegiance and delivered the inspiration message.

Trolan is a Los Gatos resident and has been a REALTOR® and broker for 30 years. She began her real estate career with Van Vleck REALTORS® and continued on with Cornish & Carey and later Coldwell Banker Residential Brokerage. From top agent, Trolan moved up the ranks quickly to vice president and manager of the Cornish & Carey’s Palo Alto Midtown office, vice president/managing broker for the Los Altos office, and finally, when Coldwell Banker bought Cornish and Carey, Trolan was named senior vice president and regional manager of Silicon Valley Coldwell Banker Residential Brokerage.

Despite suffering severe injuries from a tragic airplane accident in 2009 that left her paralyzed from waist down, Trolan through sheer perseverance and hard work went back to doing most of the activities she did before the accident. In April 2011, Trolan joined the Alain Pinel REALTORS® Los Gatos office, where she is currently assistant manager, responsible for agent improvement, community involvement and other special projects.

The Consumer Financial Protection Bureau (CFPB) announced a proposal to postpone the effective date of the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure (TRID) rule to October 1 instead of August 1. The CFPB cited an “administrative error” and consumers’ busy schedules at the start of the school year as reasons why it is proposing the two-month delay. The National Association of REALTORS® and nearly 300 members of Congress had pushed for the delay or a period of restrained enforcement of the new rule so all parties can become accustomed to the changes.

The new rule, which is also referred to as the Know Before You Owe rule, is intended to benefit consumers by creating more accountability and offering consumers more time to understand the mortgage process and their options, but industry experts anticipate complying with the new rule could add at least a week to closings. They are concerned the potential delays might even give all-cash buyers an edge over home buyers who are depending on financing, especially when closing quickly is critical in a hot market.

The Know Before You Owe rule is essentially a consolidation of several forms. The Good Faith Estimate (GFE) and the initial Truth-in-Lending disclosures will be combined into a new form called the Loan Estimate. The HUD-1 and the final Truth-in-Lending disclosures will be combined into another new form called the Closing Disclosure.

It is the timing requirements to deliver the Closing Disclosure that have real estate professionals concerned about potential delays in the closing process. If the Closing Disclosure is not actually received in person, the new rule requires an additional three-day period if it is delivered by mail or electronically. Sunday is not counted; then add a federal holiday to the mix the Closing Disclosure may have to be delivered seven days or more before consummation.

Also, since the responsibility for compliance with the new rule falls heavily on lenders, it is very likely that lenders will retain tight control over the process of issuing the Closing Disclosure. Any last minute changes to the contract, such as seller credits to buyers or removing a loan contingency, could trigger cause for reissuance of a new Closing Disclosure. This could create further delays in the transaction.

“Starting the loan approval process early will reduce the risk of delayed closings. It is imperative that buyers work with a REALTOR® who understands these new guidelines and can prepare the buyer for all possibilities,” advises Chis Isaacson, president of the Silicon Valley Association of REALTORS®.

The Silicon Valley Association of REALTORS® (SILVAR), a professional trade organization representing over 4,500 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay, has come out in opposition to a Bay Area Air Quality Management District (BAAQMD) proposal that would mandate the replacement of all uncertified wood-burning devices with gas-fueled, electric or Environmental Protection Agency (EPA) certified heating devices that meet or exceed NSPS Subpart AAA, upon the sale or transfer of residential or commercial property.

In a letter addressed to BAAQMD, SILVAR President Chris Isaacson stated, “We cannot over-emphasize the impact this rule would have on the Silicon Valley housing market. What little it does to reduce wintertime air pollution does not warrant the substantial difficulty it would cause for people who are trying to sell their homes.”

According to SILVAR, implementation of this rule would be complicated, costly, ineffective, overreaching and intrusive to residents. Installation of gas and electrical inserts or EPA certified heating devices would require construction or placement of gas or electric lines into a fireplace, triggering structural, slab foundation and other issues that would be costly. The cost of the units alone range from several hundred to thousands of dollars.

Isaacson said the government should implement regulations that fix problems while negatively impacting the fewest number of residents. The fireplace amendment does the exact opposite and does not correct the problem of air pollution. This rule would force people to remove fireplaces with literally no evidence that the people buying the home would violate “Spare the Air” restrictions, or ever burn wood.

SILVAR contends the rule is an ineffective, senseless solution to solving the problem of air pollution, since it would only affect about 40 percent of homes in 40 years. “This Rule punishes everyone for the bad acts of a few. If implemented, this Rule will hamstring the real estate market, cost home sellers potentially thousands of dollars, and by 2050 will only impact less than half of the fireplaces in the region. This Rule is a broad brush that does not even attempt to target the actual bad actors,” said Isaacson.

SILVAR strongly recommends taking a different, more sensible approach to improving air quality. The Association recommends increasing Spare the Air days and stepping up its enforcement, and providing incentives to homeowners who install the suggested gas-fueled, electric or EPA-certified heating devices.

“Figure out the areas where people are burning excessively and target those areas with either mandatory or voluntary burn bans. If changing out the fireplace is still a goal, then incentivize homeowners to remove or retrofit. This harsh and excessive regulation is not the right way,” said Isaacson.

The 2012 leadership team of the Silicon Valley Association of REALTORS (SILVAR) was installed Jan. 12 at Villa Montalvo in Saratoga. California Association of REALTORS® (C.A.R.) treasurer Chris Kutzkey administered the oath of office to the association’s 2012 president Suzanne Yost and the board of directors.

The Silicon Valley Association of REALTORS®represents over 4,000 REALTORS® and affiliates engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.

Yost is a broker associate with Alain Pinel Realtors, Los Gatos. Also on the leadership team are Carolyn Miller (RE/MAX Real Estate Services), president-elect, and Phyllis Carmichael (Coldwell Banker), treasurer.

A graduate of California Polytechnic State University – San Luis Obispo and Santa Clara University School of Law, Yost was named REALTOR® of the Year in 2006 by the Santa Cruz Association of REALTORS®, Salesperson of the Year in 1982 by the San Luis Obispo Board of REALTORS®, and has served as director and chair of a number REALTOR® committees at the national and state level. She was SILVAR’s 2009 Professional Standards Committee chair, a 2010 board director, and 2011 co-chair of the Bay Area REALTOR® Leadership Academy. Yost is a Los Gatos resident.

As 2009 president, Keady spearheaded the Bay Area REALTOR® Leadership Academy, a leadership program designed to identify, train and develop existing and emerging leaders to serve and advance organized real estate. She was also recognized as 2011 C.A.R. Region 9 chair. Presenting the award, 2011 president Gene Lentz noted Keady “has performed in an exemplary fashion in every single committee or assignment that she has been given. They take huge effort and dedication.”

Affiliate of the Year Miller was recognized for “unequivocally embracing and adopting the principles, goals, and purposes of the association.”

As chair of the REALTOR® Service Volunteer Program (RSVP), a free REALTOR® service assisting senior homeowners with household tasks, Lentz said Giorgi, who also served as 2011 president of the Silicon Valley REALTORS® Charitable Foundation Trust, “personifies the essence of this award, through her hard work in making RSVP the success it is today.”

Lentz thanked Hamerslough and Naidorf for educating REALTORS® on legal issues and for their efforts in updating the association’s PRDS Forms purchase contract and creating the counties’ advisory.